The corporates contributed to a series C round raised by mobile payments company SumUp, which is also backed by Tengelmann and American Express.

The internet services company has invested $580m for a 10.8% stake in Rocket, bringing its total fundraising to more than $1bn this month.

Global Corporate Venturing caught up with the three founding directors of insurance group MassMutual's corporate venturing unit to get the lowdown on their plans for the fund.

The company, a subsidiary of Intel and SAP-backed One97 Communications, has also allocated $25m for acquisitions.

Axial, a platform that connects business owners to capital, has secured $11m in series B funding in a round that featured Comcast's corporate venturing fund.

The Phillipines-based telecommunications company has taken a 10% stake in Rocket Internet and the two plan to partner on mobile payment ventures.

Bertelsmann-backed Mo9 raised an eight-figure dollar round from undisclosed backers.

The state-owned insurer will take a stake in the firm, which runs two venture capital units, sized at between 2% and 5%.